Magna International Re-instates FY20 Sales Outlook; Declares Dividend - Quick Facts

While reporting financial results for the second quarter on Friday, automotive supplier Magna International Inc. (MG.TO,MGA) re-instated its sales outlook for the full-year 2020, after it had withdrawn the outlook in late March, due to the high degree of business uncertainty caused by COVID-19.

For fiscal 2020, the company now projects total sales between $30.0 billion and $32.0 billion.

On average, analysts polled by Thomson Reuters expect the company to report sales of $30.30 billion for the year.

Additionally, the company's Board of Directors declared a second quarter dividend of $0.40 per Common Share, payable on September 4, 2020 to shareholders of record as of the close of business on August 21, 2020.

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